New sites help to fuel growth at Applegreen

Applegreen added 99 new sites, including 22 in Ireland, 20 in the UK, and 57 more in the US in 2017GARETH CHANEY /COLLINS AGENCY

Revenue at Applegreen, the Irish fuel forecourt retailer, soared by more than a fifth last year to €1.4 billion, driven by strong petrol margins and new acquisitions.

Over the course of 2017, the company added 99 new sites, including 22 in Ireland, 20 in the UK, and 57 more in the US. The Dublin-headquartered business reported a 3.9 per cent increase in food and store sales off the back of a significant rebranding activity.

Gross profit increased by 25 per cent to €181.7 million last year after a €113 million investment in its network. Net debt at the company plummeted by €9.2 million to €10.2 million. The company will also pay a dividend to shareholders for the year of 1.40 cent.